5 Costly Mistakes to Avoid When Choosing Your Mortgage Lender in UAE
Mistakes to avoid before signing your mortgage contract
Buying a property in Dubai or anywhere in the UAE is one of the biggest financial commitments you’ll ever make. Yet, many borrowers fall into the same costly trap: they simply go with their salary transfer bank. On the surface, it feels convenient—but in reality, it can be a big mistake that costs you tens of thousands of dirhams over the life of your mortgage.
Before you sign that mortgage offer, here are 5 things to check before choosing your mortgage lender:
Interest Rates & Fees – Don’t settle for the first rate your bank offers. Compare fixed and variable mortgage rates across lenders; even a 0.5% difference can mean huge savings.
Eligibility & Flexibility – Salary transfer is not always required. Some of the best UAE mortgage deals come from banks where you don’t transfer your salary.
Hidden Costs – Processing fees, early settlement penalties, life insurance requirements—these can add up if you don’t review them carefully.
Repayment Options – Look for flexible repayment terms, partial settlement allowances, and the ability to refinance if better mortgage deals become available.
Independent Advice – Always get guidance from a mortgage advisor who works across multiple banks, not just one. The right advice can save you both money and stress.
💡 Pro Tip: Choosing wisely could mean saving hundreds of dirhams every single month. Don’t let convenience blind you—mortgage financing in the UAE is competitive, and you deserve the best deal available.
At The UAE Mortgages, we help property buyers and investors compare offers from leading banks, uncover hidden costs, and secure the most suitable mortgage plan—without you paying extra.
